Energy Markets and Responsive Grids: Modeling, Control, and Optimization (The IMA Volumes in Mathematics and its Applications Book 162)

This volume consists of selected essays by participants of the workshop Control at Large Scales: Energy Markets and Responsive Grids held at the Institute for Mathematics and its Applications, Minneapolis, Minnesota, U.S.A. from May 9-13, 2016. The workshop brought together a diverse group of experts to discuss current and future challenges in energy markets and controls, along with potential solutions. The volume includes chapters on significant challenges in the design of markets and incentives, integration of renewable energy and energy storage, risk management and resilience, and distributed and multi-scale optimization and control. Contributors include leading experts from academia and industry in power systems and markets as well as control science and engineering. This volume will be of use to experts and newcomers interested in all aspects of the challenges facing the creation of a more sustainable electricity infrastructure, in areas such as distributed and stochastic optimization and control, stability theory, economics, policy, and financial mathematics, as well as in all aspects of power system operation. Front Matter ....Pages i-x How to Manage the Complexity of the Grid? (Eugene Litvinov, Feng Zhao, Tongxin Zheng)....Pages 1-27 Naïve Electricity Markets (David B. Spence)....Pages 29-57 Capacity Markets: Rationale, Designs, and Trade-Offs (Alfredo Garcia)....Pages 59-72 Redesign of US Electricity Capacity Markets (Robert W. Moye, Sean P. Meyn)....Pages 73-103 A Swing-Contract Market Design for Flexible Service Provision in Electric Power Systems (Wanning Li, Leigh Tesfatsion)....Pages 105-127 A Dynamic Framework for Electricity Markets (Anuradha Annaswamy, Stefanos Baros)....Pages 129-153 Fast Market Clearing Algorithms (Arvind U. Raghunathan, Frank E. Curtis, Yusuke Takaguchi, Hiroyuki Hashimoto)....Pages 155-175 Small Resource Integration Challenges for Large-Scale SCUC (Cuong Nguyen, Lei Wu, Muhammad Marwali, Rana Mukerji)....Pages 177-193 Multi-Grid Schemes for Multi-Scale Coordination of Energy Systems (Sungho Shin, Victor M. Zavala)....Pages 195-222 Graphical Models and Belief Propagation Hierarchy for Physics-Constrained Network Flows (Michael Chertkov, Sidhant Misra, Marc Vuffray, Dvijotham Krishnamurthy, Pascal Van Hentenryck)....Pages 223-250 Profit Maximizing Storage Integration in AC Power Networks (Anya Castillo, Dennice F. Gayme)....Pages 251-280 Virtual Inertia Placement in Electric Power Grids (Bala Kameshwar Poolla, Dominic Groß, Theodor Borsche, Saverio Bolognani, Florian Dörfler)....Pages 281-305 A Hierarchy of Models for Inverter-Based Microgrids (Olaoluwapo Ajala, Alejandro D. Domínguez-García, Peter W. Sauer)....Pages 307-332 Asynchronous Coordination of Distributed Energy Resources with Packetized Energy Management (Mads Almassalkhi, Luis Duffaut Espinosa, Paul D. H. Hines, Jeff Frolik, Sumit Paudyal, Mahraz Amini)....Pages 333-361 Ensemble Control of Cycling Energy Loads: Markov Decision Approach (Michael Chertkov, Vladimir Y. Chernyak, Deepjyoti Deka)....Pages 363-382 Distributed Control Design for Balancing the Grid Using Flexible Loads (Yue Chen, Md Umar Hashmi, Joel Mathias, Ana Bušić, Sean Meyn)....Pages 383-411 Disaggregating Load by Type from Distribution System Measurements in Real Time (Gregory S. Ledva, Zhe Du, Laura Balzano, Johanna L. Mathieu)....Pages 413-437 Risk-Aware Demand Management of Aggregators Participating in Energy Programs with Utilities (William D. Heavlin, Ana Radovanović, Varun Gupta, Seungil You)....Pages 439-460 Toward Resilience-Aware Resource Allocation and Dispatch in Electricity Distribution Networks (Devendra Shelar, Saurabh Amin, Ian Hiskens)....Pages 461-489 A Cautionary Tale: On the Effectiveness of Inertia-Emulating Load as a Cyber-Physical Attack Path (Hilary E. Brown, Christopher L. DeMarco)....Pages 491-518 This volume consists of selected essays by participants of the workshop __Control at Large Scales: Energy Markets and Responsive Grids__ held at the Institute for Mathematics andits Applications, Minneapolis, Minnesota, U.S.A. from May 9-13, 2016. The workshop brought together a diverse group of experts to discuss current and future challenges in energy markets and controls, along with potential solutions. The volume includes chapters on significant challenges in the design of markets and incentives, integration of renewable energy and energy storage, risk management and resilience, and distributed and multi-scale optimization and control. Contributors include leading experts from academia and industry in power systems and markets as well as control science and engineering. This volume will be of use to experts and newcomers interested in all aspects of the challenges facing the creation of a more sustainable electricity infrastructure, in areas such as distributed and stochastic optimization and control, stability theory, economics, policy, and financial mathematics, as well as in all aspects of power system operation.